29.06.21
Pakistan and International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank, signed a $4.5 billion new framework agreement to finance oil, LNG and fertilizer imports.
Pakistan and International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank, signed a $4.5 billion new framework agreement to finance oil, LNG and fertilizer imports.
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29.06.2021 в 15:47
The agreement was signed on June, 28 by ITFC Chief Executive Officer Hani Salem Sonbol and Economic Affairs Division (EAD) Secretary Noor Ahmed in the presence of Minister for MEA Omar Ayub Khan. The new framework agreement will “provide financing for the import of essential commodities such as crude oil, refined petroleum products, LNG and urea”, announced the Ministry of Economic Affairs (MEA) soon after the signing of the agreement. The financing available through this facility will be utilized by Pakistan State Oil (PSO), Pak-Arab Refinery Ltd (Parco) and Pakistan LNG Ltd (PLL) for import of crude oil, refined petroleum products and LNG over the next three years (2021-23). Signing of this agreement opens up additional opportunities for Russian oil, LNG and fertilizers producers for increasing their export to Pakistan.
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